ASIC v P.J.C.B. INTERNATIONAL LTD [2009] NSWSC 34

New South Wales Supreme Court

CITATION : ASIC v P.J.C.B. INTERNATIONAL LTD [2009] NSWSC 34

HEARING DATE(S) : 16/12/08

JUDGMENT DATE : 12 February 2009

JURISDICTION : Equity Division Corporations List

JUDGMENT OF : Barrett J

DECISION : Application for order discharging freezing orders dismissed with costs

CATCHWORDS : CORPORATIONS - investigation by ASIC - freezing order on assets of persons suspected of involvement in unregistered managed investment scheme - where ASIC seeking orders for payment of moneys to persons who invested in scheme - risk assessment and risk management - various factors considered

LEGISLATION CITED : Corporations Act 2001 (Cth), ss 601ED(5), 1323(1)(a)

CATEGORY : Principal judgment

Australian Securities and Investments Commission v Banovec (No 2) [2007] NSWSC 961; (2007) 214 FLR 33 Australian Securities and Investments Commission v Burnard [2007] NSWSC 1217; (2007) 64 ACSR 360 CASES CITED : Australian Securities and Investments Commission v Hawley (No 2) [2008] FCA 1598 Australian Securities and Investments Commission v HLP Financial Planning (Aust) Pty Ltd [2007] FCA 1868; (2007) 164 FCR 487 Australian Securities and Investments Commission v Krecichwost [2007] NSWSC 948; (2007) 64 ACSR 411 Re Richstar Enterprises Pty Ltd; Australian Securities and Investments Commission v Carey (No 3) [2006] FCA 433; (2006) 57 ACSR 307

Australian Securities and Investments Commission - Plaintiff P.J.C.B. International Ltd - First Defendant J & B Financial Group Pty Ltd - Second Defendant Destiny Holdings Ltd - Third Defendant Brian John Wood - Fourth Defendant Barry Frank Jennings - Fifth Defendant Technocash Pty Ltd - Sixth Defendant Idylic Solutions Ltd - Seventh Defendant PARTIES : Upton Ltd - Eighth Defendant Jimmy Truong - Ninth Defendant Con Koutsoukos - Tenth Defendant Idylic Solutions Pty Ltd - Eleventh Defendant Jennifer Trinh - Twelfth Defendant Geneva Financial Ltd - Thirteenth Defendant Jacqueline Hobbs - Fourteenth Defendant Brenda Hobbs - Fifteenth Defendant Unifund Ltd - Sixteenth Defendant David John Hobbs - Seventeenth Defendant